CME Bitcoin futures started bear market - Federal Reserve

[Wind_FURY]

Futures or no futures, I still firmly believe that Bitcoin will be priced in 6 digits after the next halving because of simple economics, " more demand, less supply", and technological merit.

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[fabiorem]

I said that one year ago, but people said it was a "conspiracy theory".

When futures got announced, price started to climb. When CBOE was launched, it skyrocketed, and when CME came, it started falling.

I noticed that by the end of October 2017, posted on the forums, but people said it was just a theory.

Futures markets did the same with gold and silver. Its infinite fiat money being injected to bring valuable assets down. They keep doing that until regulators step in and put safeguards on the market, which for many is the ETF proposal. ETFs on gold and silver made these assets go up again.

[bbc.reporter]

@fabiorem. The people were scammed to buy bitcoins on the all time high and they are also being scammed again to sell on very low prices. Who said that only ICO pumpers know how to scam? There are also Wall Street futures pumpers hehehe.

[bbc.reporter]

This might not be a bitcoin article but it reveals how deep the corruption is among the big wigs in Wall Street and how they are in control of the regulators and the policy makers. Goldman Sachs is an institution that is using bitcoin to create another bubble and create another crisis after it, I reckon.

However, if you are a bitcoin speculator, the bubble ast year might only be a small drop compared to Goldman Sach's next bitcoin bubble and the dump will certainly hurt as much hehehe.



Of the myriad policy decisions that have brought us to our current precipice, from the signing of the North Atlantic Free Trade Agreement (NAFTA) to the invasion of Iraq and the gerrymandering of House districts across the country, few have proven as consequential as the demise of Glass-Steagall. Signed into law as the U.S.A. Banking Act of 1933, the legislation had been crucial to safeguarding the financial industry in the wake of the Great Depression. But with its repeal in 1999, the barriers separating commercial and investment banking collapsed, creating the preconditions for an economic crisis from whose shadow we have yet to emerge.

Carmen Segarra might have predicted as much. As an employee at the Federal Reserve in 2011, three years after the dissolution of Lehman Brothers, she witnessed the results of this deregulation firsthand. She chronicles the recklessness of institutions like Goldman Sachs and the stunning lengths the United States government went to to accommodate them, even as they authored one of the worst crashes in our nation’s history.

https://www.truthdig.com/articles/wall-streets-corruption-runs-deeper-than-you-can-fathom/

[STT]

Its not just that shorts exist, its that it allows big holders of BTC to hedge their BTC by taking part in futures.   At least one case I read was a big fund holding BTC took out a long contract for the next 12 months but also used this as an opportunity sell off a large part of the BTC stored.

The contract is like a kind of insurance, he is covered from that upside and disappointment by his investors but can also sell off the 'physical' BTC into market that has heavy demand still in play at ideal prices.   This is great for a large holding as he can balance his orders properly not have to struggle to match up to buyers when he is selling in a market declining.

The futures or shorts arent the negative but they do allow balance to occur which in this case is relieving pressure from the BTC price.   Its not the explanation for all of the decline and also people dont like the lower price maybe but every market needs to allow prices to move like this.   I think BTC would have destroyed itself if it had only continued upwards to even greater prices, people might not get this but the decline saves BTC long term imo

[gentlemand]

Futures or no futures, I still firmly believe that Bitcoin will be priced in 6 digits after the next halving because of simple economics, " more demand, less supply", and technological merit.

Simple economics don't really come into play here. If they did things may look extremely different. Since it's pure speculation is it not the case that pure emotion drives this? Apart from a small number of users there is no economic use in play here and those users are nobodies compared to the traders batting the price around.